Employment Mediation: What it is and could it save you money?
Mediation is becoming increasing popular for a whole host of reasons, it is a voluntary and confidential form of alternative dispute resolution with the overriding aim to restore and maintain the employment relationships.
So why is it becoming increasing popular? It is less formal than other forms of resolutions for workplace conflict such as a formal grievance processes or tribunals, it is confidential and impartial whilst being effective and positive with 80% of mediations reaching a settlement.
It is estimated by CIPD that workplace conflicts cost the economy £24billion per year with 370 million working days being lost.
The average cost of an Employment Tribunal is £20,000.00 with an estimated time of 32 days lost per staff member involved, with mediation at a cost of £2500.00 and 3 days of time companies are keen to learn more.
Mediation can be seen as an improvement on a company’s bottom line, as a cost effective solution for the majority of disputes and a great problem solver.
For further information about mediation and if its right for you do get in touch
CIPD workplace mediation
